Payment Delays

[ERISA-Bubs]

We have a NQDC plan under which payments are made in installments beginning at the end of the first quarter of the year after vesting. However there is one strange twist: If the Administrator determines there is likely to be a change in control in the calendar year a payment is to be made, the payment date is delayed until the last day of the first quarter following the Change in Control.

Is this allowable? It makes me very nervous.

If the above is not allowable, what if I change it so the payment is just delayed until the end of the calendar year, so I still comply with the 409A rule that a payment made in the same year as the payment date is considered paid on time?